How much is the property tax in NJ? New Jersey rates explained
If you prefer a fast benchmark, New Jersey’s average residential property tax bill in 2024 was about $9,898, even though the New Jersey property tax rate is determined locally. Yet, the real number in your specific town can land far from that starting point.
What is the New Jersey property tax rate right now?
There isn’t one single NJ property tax rate. Because property taxes are determined locally and can vary from one municipality to the next.
In New Jersey, your bill starts with a local general tax rate, which is what many taxpayers mean when they ask about the New Jersey property tax rate. Such tax is expressed per $100 of taxable assessed value and then multiplied by your property’s assessment to produce your annual tax.
What’s the distinction between a general tax rate and an effective tax rate?
The general tax rate is the number used to calculate the actual bill. The effective property tax rate New Jersey is mainly a comparison tool across towns. It assumes everything is assessed at full value.
What are average NJ property taxes by county?
County averages present a valuable “ballpark” before looking up your specific town rate and the New Jersey property tax rate used in your municipality. The table below uses New Jersey’s official 2024 Average Residential Statistics. It shows the selected counties’ average residential tax bill by county along with the relevant county’s average residential assessment.
Why do property tax bills vary so much across New Jersey?
Local budgets influence the bill. Therefore, average NJ property taxes can look very different from one county to the next. And the distinctions in school spending & municipal services and county costs show up quickly in what homeowners pay. Drivers can be exemplified as below:
- School district levies — generally the largest share
- Municipal operating costs — police, fire, sanitation, public works
- County services and debt
- Distinctions in ratables — the local tax base, covering business property
- Reassessments & revaluations that shift the tax burden between properties
How do you calculate your NJ property tax bill?
It is possible to estimate the annual bill by multiplying the assessed value by the specific town’s general tax rate. The basic method is as follows:
- Find the taxable assessed value from the assessment notice or tax bill
- Find the local general tax rate — generally shown as dollars per $100 of assessed value
- Multiply assessed value × general tax rate.
Example: In the case the home is assessed at $350,000 and the general tax rate is $3.20 per $100, the estimate is as below:
- $350,000 ÷ 100 = 3,500
- 3,500 × $3.20 = $11,200 (annual)
Where can you find the exact tax rate for your address?
The reliable source is your current tax bill, because it shows the New Jersey property tax rate applied to your assessed value for that billing year. Because it simply reflects your property’s assessment & the rate used for that billing year. Moreover:
- Check relevant municipality’s tax collector page
- Look up general tax rates & effective rates on the New Jersey Division of Taxation site
- Use your county board of taxation resources for assessment and appeal details
When are New Jersey property taxes due?
New Jersey property taxes are billed in four quarterly installments that are due February 1, May 1, August 1, and November 1.
Specific towns allow a short grace period, in general, up to 10 days. Yet, payments should generally be received by the deadline used by that town — not just postmarked.
How are New Jersey property taxes handled when you buy or sell a home?
At closing, property taxes are usually prorated. Therefore, each owner pays for the days they owned the property during the tax period. In other words:
- The closing statement credits or charges each side for the “unpaid” part of the quarter
- If taxes are paid in advance through the mortgage escrow, the closing statement generally reconciles the escrow balance
- If there is a big assessment change pending, like reassessment, added assessment or new construction, ask your closing agent whether a tax escrow holdback is needed
What can you do if your property tax feels too high?
You have two practical levers. Make sure the assessment is fair and see whether you satisfy the qualification for state relief programs.
How does a property tax appeal work in NJ?
An assessment appeal is a request to review and correct your property’s assessed value if it seems higher than its market value.
Appeals should be filed on or before April 1 — or within 45 days of the bulk mailing of Assessment Notices (whichever is later). May 1 applies where a municipal revaluation or reassessment was implemented.
A proper appeal file covers:
- Recent comparable sales, like similar homes, close by, close in time
- Photos or notes on condition issues that influence value
- A copy of the assessment notice
- Any appraisal you already have (optional)
What property tax relief programs exist in NJ?
New Jersey presents specific programs that can lower the net cost of property taxes for eligible residents. The options are outlined below:
- ANCHOR — for specific homeowners and renters — in line with the residency and income
- Senior Freeze — reimburses eligible seniors and disabled residents for tax increases above a base year
- A combined PAS-1 application — used for multiple relief programs with deadlines that can vary each year
Get your NJ property tax questions answered with Wasserman Accounting
If you’re purchasing a home or moving counties or trying to budget for next year — reach out to us for a numbers-first review.
Wasserman can review the tax bill and assessment. We stand ready to estimate how a move changes the annual costs and connect your property tax picture to the broader return planning.
FAQ
At what age do you stop paying property taxes in NJ?
There’s no age where property taxes automatically stop — your bill is still in line with the local New Jersey property tax rate. Specific seniors and some disabled/veteran homeowners may satisfy qualifications for relief programs that lower the out-of-pocket cost.
What is the 3-year rule in NJ?
People generally mean NJ’s Freeze Act. A successful assessment appeal can lock in the new assessed value for the appeal year plus the next two years with exceptions. It doesn’t change the local New Jersey property tax rate.